TaxTMI 
TaxTMI 
TaxTMI 
Incomes not included in total income [Clause (1) to Clause (10D)]
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....ch bears to the total income of the firm the same proportion as the amount of his share in the profits of the firm in accordance with the partnership deed bears to such profits ;] (3) 3[****] 4[(4) (i) in the case of a non-resident, any income by way of interest on such securities or bonds as the Central Government may, by notification in the Official Gazette, specify in this behalf, including income by way of premium on the redemption of such bonds : 5[Provided that the Central Government shall not specify, for the purposes of this sub-clause, such securities or bonds on or after the 1st day of June, 2002;] 6[(ii) in the case of an individual, any income by way of interest on moneys standing to his credit in a Non-Resident (External) Account in any bank in India in accordance with 83[the Foreign Exchange Management Act, 1999 (42 of 1999)], and the rules made thereunder : Provided that such individual is a person resident outside India as defined in 88[clause (w)] of section 2 of the said Act or is a person who has been permitted by the Reserve Bank of India to maintain the aforesaid Account ;]] 7[***] 8[(4B) in the case of an individual, being a citizen of Indi....
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.... division of offshore banking unit, as the case may be,] computed in the prescribed manner]. Explanation:-For the purposes of this clause, the expression- (a) "convertible foreign exchange" means foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Exchange Management Act, 1999 (42 of 1999) and the rules made thereunder; 95[(aa) "investment division of offshore banking unit" means an investment division of a banking unit of a non-resident located in an International Financial Services Centre, as referred to in sub-section (1A) of section 80LA and which has commenced its operations on or before the 31st day of March, 122[2030].] (b) "manager" shall have the meaning assigned to it in clause (q) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992.); 93[(ba) "permanent establishment" shall have the same meaning assigned to it in clause (iiia) of section 92F; (bb) "securities" shall have the same meaning as assigned to it in clau....
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....of 1992.) and which has commenced its operations on or before the 31st day of March, 124[2030]; and (II) fulfils such conditions including maintenance of separate accounts for its investment division, as may be prescribed;] (d) "sponsor" shall have the meaning assigned to it in clause (w) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992.); (e) "trust" means a trust established under the Indian Trusts Act, 1882 (2 of 1882.) or under any other law for the time being in force; (f) "unit" means beneficial interest of an investor in the fund and shall include shares or partnership interest;] 97[113[(4E) any income accrued or arisen to, or received by a non-resident as a result of- (i) transfer of non-deliverable forward contracts or offshore derivative instruments or over-the-counter derivatives; or (ii) distribution of income on offshore derivative instruments 125[or over-the-counter derivatives], entered into with an offshore banking unit of an International Financial Services Centre referred to in sub-section (....
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.... in sub-section (1A) of section 80LA, engaged primarily in the business of leasing of an 129A[aircraft or a ship] which has commenced operations on or before the 31st day of March, 130[2030]: Provided that the provisions of this clause shall apply for capital gains arising from the transfer of equity shares of such domestic company in a previous year relevant to an assessment year falling within the- (a) period of ten assessment years beginning with the assessment year relevant to the previous year in which the domestic company has commenced operations; or (b) period of ten assessment years beginning with the assessment year commencing on the 1st day of April, 2024, where the period referred to in clause (a) ends before the 1st day of April, 2034. 131[Explanation.-For the purposes of this clause,- (a) "aircraft" means an aircraft or a helicopter, or an engine of an aircraft or a helicopter, or any part thereof; (b) "ship" means a ship or an ocean vessel, engine of a ship or ocean vessel, or any part thereof;]] 10[(5) in the case of an individual, the value of any travel concession or assistance received by, or due to, him,- (a) from his employer for himself and his ....
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....icials or, as the case may be, members of the staff, if any, of the Government resident for similar purposes in the country concerned enjoys a similar exemption in that country : Provided further that such members of the staff are subjects of the country represented and are not engaged in any business or profession or employment in India otherwise than as members of such staff ;] (iii) 14[****] (iv) 14[****] (v) 14[****] (vi) the remuneration received by him as an employee of a foreign enterprise for services rendered by him during his stay in India, provided the following conditions are fulfilled- (a) the foreign enterprise is not engaged in any trade or business in India ; (b) his stay in India does not exceed in the aggregate a period of ninety days in such previous year ; and (c) such remuneration is not liable to be deducted from the income of the employer chargeable under this Act ; (via) 15[***] (vii) 16[***] (viia) 17[***] (viii) any income chargeable under the head "Salaries" received by or due to any such individual being a non-resident as remuneration for services rendered in connection with his employment on a foreign ship where hi....
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.... royalty or fees for technical services) from Government or an Indian concern in pursuance of an agreement entered into 26[before the 1st day of June, 2002] by the Central Government with the Government of a foreign State or an international organisation, the tax on such income is payable by Government or the Indian concern to the Central Government under the terms of that agreement or any other related agreement approved before that date by the Central Government, the tax so paid ;] 27[(6BB) where in the case of the Government of a foreign State or a foreign enterprise deriving income from an Indian company engaged in the business of operation of aircraft, as a consideration of acquiring an aircraft or an aircraft engine (other than payment for providing spares, facilities or services in connection with the operation of leased aircraft) on lease under 28[an agreement entered into after the 31st day of March, 1997 but before the 1st day of April, 1999, or entered into after the 29[31st day of March, 30[2007]] and approved by the Central Government in this behalf] and the tax on such income is payable by such Indian company under the terms of that agreement to the Centr....
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....ent of the country of his or its origin. 109[Provided that nothing contained in this clause shall apply to such remuneration, fee and income of the previous year relevant to the assessment year beginning on or after the 1st day of April, 2023.] Explanation.-In this clause, "consultant" means- (i) any individual, who is either not a citizen of India or, being a citizen of India, is not ordinarily resident in India ; or (ii) any other person, being a non-resident, engaged by the agency for rendering technical services in India in connection with any technical assistance programme or project, provided the following conditions are fulfilled, namely :- (1) the technical assistance is in accordance with an agreement entered into by the Central Government and the agency ; and (2) the agreement relating to the engagement of the consultant is approved by the prescribed authority for the purposes of this clause ; (8B) in the case of an individual who is assigned to duties in India in connection with any technical assistance programme and project in accordance with an agreement entered into by the Central Government and the agency- (a) the remuneration received by him, direc....
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....es not exceed an amount calculated in accordance with the provisions of sub-sections (2) and (3) of section 4 of that Act ; (iii) any other gratuity received by an employee on his retirement or on his becoming incapacitated prior to such retirement or on termination of his employment, or any gratuity received by his widow, children or dependants on his death, to the extent it does not, in either case, exceed one-half month's salary for each year of completed service, 37[calculated on the basis of the average salary for the ten months immediately preceding the month in which any such event occurs, subject to such limit as the Central Government may, by notification in the Official Gazette, specify in this behalf having regard to the limit applicable in this behalf to the employees of that Government] : Provided that where any gratuities referred to in this clause are received by an employee from more than one employer in the same previous year, the aggregate amount exempt from income-tax under this clause 38[shall not exceed the limit so specified] : Provided further that where any such gratuity or gratuities was or were received in any one or more earlier previous years a....
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....her] on superannuation or otherwise as does not exceed 49[ten] months, calculated on the basis of the average salary drawn by the employee during the period of ten months immediately preceding his retirement 50[whether] on superannuation or otherwise, 51[subject to such limit as the Central Government may, by notification in the Official Gazette, specify in this behalf having regard to the limit applicable in this behalf to the employees of that Government] : Provided that where any such payments are received by an employee from more than one employer in the same previous year, the aggregate amount exempt from income-tax under this sub-clause 52[shall not exceed the limit so specified] : Provided further that where any such payment or payments was or were received in any one or more earlier previous years also and the whole or any part of the amount of such payment or payments was or were not included in the total income of the assessee of such previous year or years, the amount exempt from income-tax under this sub-clause 53[shall not exceed the limit so specified], as reduced by the amount or, as the case may be, the aggregate amount not included in the total income of any su....
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....asis that his service has been continuous and has not been interrupted by the transfer ; (c) the expressions "employer" and "workman" shall have the same meanings as in the Industrial Disputes Act, 1947 (14 of 1947);] 60[(10BB) any payments made under the Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985 (21 of 1985), and any scheme framed thereunder except payment made to any assessee in connection with the Bhopal Gas Leak Disaster to the extent such assessee has been allowed a deduction under this Act on account of any loss or damage caused to him by such disaster ;] 61[(10BC) any amount received or receivable from the Central Government or a State Government or a local authority by an individual or his legal heir by way of compensation on account of any disaster, except the amount received or receivable to the extent such individual or his legal heir has been allowed a deduction under this Act on account of any loss or damage caused by such disaster. Explanation.-For the purposes of this clause, the expression "disaster" shall have the meaning assigned to it under clause (d) of section 2 of the Disaster Management Act, 2005 (53 of 2005);] 62[(10C) any amou....
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....etary payment, within the meaning of clause (2) of section 17, the tax on such income actually paid by his employer, at the option of the employer, on behalf of such employee, notwithstanding anything contained in section 200 of the Companies Act, 1956 (1 of 1956);] 74[(10D) any sum received under a life insurance policy, including the sum allocated by way of bonus on such policy, other than- (a) any sum received under sub-section (3) of section 80DD or sub-section (3) of section 80DDA; or (b) any sum received under a Keyman insurance policy; or (c) any sum received under an insurance policy issued on or after the 1st day of April, 2003, 77[but on or before the 31st day of March, 2012] in respect of which the premium payable for any of the years during the term of the policy exceeds twenty per cent of the actual capital sum 78[assured; or]: 79[(d) any sum received under an insurance policy issued on or after the 1st day of April, 2012 in respect of which the premium payable for any of the years during the term of the policy exceeds ten per cent of the actual capital sum assured]; Provided that the provisions of 80[sub-clauses (c) and (d)] shall not apply to any su....
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....on the death of a person; or (b) under a life insurance policy issued by the International Financial Services Centre insurance office, including the sum allocated by way of bonus on such policy. Explanation.--For the purposes of this proviso, "International Financial Services Centre insurance office" shall have the same meaning as assigned to it in clause (k) of sub-regulation (1) of regulation 3 of the International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021, made under the International Financial Services Centres Authority Act, 2019: (50 of 2019)]] Provided also that if any difficulty arises in giving effect to the provisions of this clause, the Board may, with the previous approval of the Central Government, issue guidelines for the purpose of removing the difficulty and every guideline issued by the Board under this proviso shall be laid before each House of Parliament, and shall be binding on the income-tax authorities and the assessee.] 82[Explanation 1.-For the purposes of this clause, "Keyman insurance policy" means a life insurance policy taken by a person on the life of another person who is or was the employee of the fir....
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....upees" had been substituted : Provided further that this clause shall not apply to- (i) capital gains chargeable under the provisions of section 45 ; or (ii) receipts arising from business or the exercise of a profession or occupation ; or (iii) receipts by way of addition to the remuneration of an employee ;" Earlier, substituted vide Section 4 of the Finance Act, 1972 w.e.f. 01-04-1972 before it was read as, "(3) any receipts which are of a casual and non-recurring nature, unless they are- (i) capital gains, chargeable under the provisions of section 45; or (ii) receipts arising from business or the exercise of a profession or occupation; or (iii) receipts by way of addition to the remuneration of an employee;" And was amended vide Section 3 of the Finance Act, 1986 w.e.f. 01-04-1987 And was amended vide Section 5 of the Finance (No. 2) Act, 1991 w.e.f. 01-10-1991 And was amended vide Section 4 of the Finance Act, 1992 w.e.f. 01-04-1992 4. Substituted vide Section 6 of the Direct Tax Laws (Amendment) Act, 1987 w.e.f. 01-04-1989 before it was read as, "(4) in the case of a non-resident, a any income....
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....the Finance (No. 2) Act, 2004 w.e.f. 01-04-2006 8. Inserted vide Section 4 of the Finance Act, 1982 w.e.f. 01-04-1983 9. Substituted vide Section 4 of the Finance Act, 2002 w.e.f. 01-04-2003 before it was read as, "savings certificates issued" 10. Substituted vide Section 4 of the Direct Tax Laws (Second Amendment) Act, 1989 w.e.f. 01-04-1989 before it was read as, "(5) subject to such conditions as the Central Government may prescribe (including conditions as to number of journeys and the amount which shall be exempt per head) in the case of an individual, the value of any travel concession or assistance received by or due to him, - (a) from his employer for himself and his family, in connection with his proceeding on leave to any place in India; (b) from his employer or former employer for himself and his family, in connection with his proceeding to any place in India after retirement from service or after the termination of his service: Provided that the amount exempt under sub-clause (a) or sub-clause (b) shall not, except in such cases and under such circumstances as may be prescribed having regard to the travel conce....
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.... (b) from his employer or former employer for himself and his family, in connection with his proceeding to any place in India after retirement from service or after the termination of his service: Provided that the amount exempt under item (a) or item (b) of this sub-clause shall not, except in such cases and under such circumstances as may be prescribed having regard to the travel concession or assistance granted to the employees of the Central Government, exceed the value of the travel concession or assistance which would have been received by or due to the individual in connection with his proceeding to his home-district in India on leave or, as the case may be, after retirement from service or after the termination of his service; Explanation : For the purposes of this sub-clause, "family", in relation to an individual, means - (i) the spouse and children of the individual; and (ii) the parents, brothers, and sisters of the individual or any of them, wholly or mainly dependent on the individual;" 11. Omitted vide Section 5 of the Finance (No. 2) Act, 1998 w.e.f. 01-04-1999 before it was read as, "(5A) in the case of an individual who is not a citize....
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.... availability of Indians having specialised knowledge and experience therein, the needs of the country and other relevant circumstances, by notification in the Official Gazette, specify, who is employed in India in a capacity in which such specialised knowledge and experience are actually utilised ;" Earlier, Inserted vide Section 3 of the Finance Act, 1993 w.e.f. 01-04-1994 And was amended vide Section 6 of the Finance Act, 1999 w.e.f. 01-04-1999 13. Omitted vide Section 4 of the Finance Act, 2002 w.e.f. 01-04-2003 before it was read as, "(i) subject to such conditions as the Central Government may prescribe, passage moneys or the value of any free or concessional passage received by or due to such individual- (a) from his employer, for himself, his spouse and children, in connection with his proceeding on home leave out of India ; (aa) [****] (b) from his employer or former employer for himself, his spouse and children, in connection with his proceeding to his home country out of India after retirement from service in India or after the termination of such service ;" Earlier, Substituted vide Section 3 of the Taxation Laws (Amendmen....
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....hropic purposes, for services rendered by him in India in connection with such purposes ; provided that such institution or association or body and the purposes for which his services are rendered in India are approved by the Central Government ;" Earlier, Inserted vide Section 3 of the Taxation Laws (Amendment) Act, 1975 w.e.f. 01-10-1975 16. Omitted vide Section 3 of the Finance Act, 1993 w.e.f. 01-04-1993 before it was read as, "(vii) the remuneration due to or received by him chargeable under the head "Salaries" for services rendered as a technician in the employment (commencing from a date before the 1st day of April, 1971) of the Government or of a local authority or of any corporation set up under any special law or in any business carried on in India, if he was not resident in any of the four financial years immediately preceding the financial year in which he arrived in India to the extent mentioned below- (a) where his contract of service is approved by the Central Government before the commencement of his service or within one year of such commencement- (i) in the case of a technician who has special knowledge and experience in industrial or bus....
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....e prescribed authority or in any business carried on in India and the individual was not resident in India in any of the four financial years immediately preceding the financial year in which he arrived in India, the remuneration for such services due to or received by him, which is chargeable under the head "Salaries", to the extent mentioned below, namely :- (I) where such services commence from a date after the 31st day of March, 1971 but before the 1st day of April, 1988,- (A) such remuneration due to or received by him during the period of twenty-four months commencing from the date of his arrival in India, in so far as such remuneration does not exceed an amount calculated at the rate of four thousand rupees per month, and where the tax on the excess, if any, of such remuneration for the period aforesaid over the amount so calculated is paid to the Central Government by the employer [which tax, in the case of an employer, being a company, may be paid notwithstanding anything contained in section 200 of the Companies Act, 1956 (1 of 1956)], also the tax so paid by the employer ; and (B) where he continues, with the approval of the Central Government obtained before the 1....
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.... 1974 w.e.f. 01-04-1973 And was Amended vide Section 3 of the Finance Act, 1979 w.e.f. 01-06-1979 And was Amended vide Section 4 of the Finance Act, 1988 w.e.f. 01-04-1988 And was Amended vide Section 4 of the Finance Act, 1992 w.e.f. 01-06-1992 And was Amended vide Section 3 of the Finance Act, 1993 w.e.f. 01-04-1993 18. Omitted vide Section 5 of the Finance (No. 2) Act, 1998 w.e.f. 01-04-1999 before it was read as, "(ix) any income chargeable under the head "Salaries" received by or due to him during the thirty-six months commencing from the date of his arrival in India for service rendered as a professor or other teacher in a University or other educational institution, and where any such individual continues to remain in employment in India after the expiry of the thirty-six months aforesaid and the tax on his income chargeable under the head "Salaries" is paid by the University or other educational institution concerned to the Central Government, the tax so paid for a period not exceeding twenty-four months following the expiry of the thirty-six months aforesaid, provided in either case the ....
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.... Earlier, amended was Section 6 of the Finance Act, 1999 w.e.f. 01-04-2000 And was Substituted vide Section 5 of the Finance (No. 2) Act, 2004 w.e.f. 01-04-2006 before it was read as, "an agreement entered after the 31st day of March, 1997 (but before the 1st day of April, 1999) and approved by the Central Government in this behalf" 29. Substituted vide Section 2 of the Taxation Laws (Amendment) Act, 2005 w.e.f. 01-04-2006 before it was read as, "30th day of September, 2005" 30. Substituted vide Section 4 of the Finance Act, 2006 w.e.f. 01-04-2007 before it was read as, "2006" 31. Inserted vide Section 4 of the Direct Tax Laws (Amendment) Act, 1989 w.e.f. 01-04-1989 32. Inserted vide Section 6 of the Finance Act, 2003 w.e.f. 01-04-2004 33. Inserted vide Section 5 of the Finance (No. 2) Act, 1991 w.e.f. 01-04-1991 34. Inserted vide Section 5 of the Finance (No. 2) Act, 1991 w.e.f. 01-04-1991 35. Inserted vide Section 5 of the Finance (No. 2) Act, 1991 w.e.f. 01-04-1991 36. Substituted vide Section 3 of the Finance Act, 1974 w.e.f. 01-04-1975 before it was read as, "(10) any death-cu....
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.... Earlier, Amended vide Section 5 of the Finance Act, 1983 w.e.f. 01-04-1982 40. Omitted vide Section 6 of the Direct Tax Laws (Amendment) Act, 1987 w.e.f. 01-04-1989 before it was read as, "Provided also that the Central Government may, having regard to the maximum amount which may for the time being be exempt under sub-clause (i), increase, by notification in the Official Gazette, the limit of thirty-six thousand rupees, for all the three purposes for which it has been mentioned in the foregoing provisions of this clause, up to such maximum amount : Provided also that in relation to cases in which the event (that is to say, retirement of the employee or his becoming incapacitated or termination of his employment or his death, as the case may be) on which gratuity is received had taken place before the 31st day of January, 1982, the proviso immediately preceding this proviso shall not apply and the remaining provisions of this clause shall have effect as if for the words "thirty-six thousand rupees", at the three places where they occur, the words "thirty thousand rupees" had been substituted." Earlier, Inserted vide Section 5 of the Finance Act, 1983&n....
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....or all the three purposes for which it has been mentioned in the foregoing provisions of this sub-clause, up to such maximum amount : Provided also that in relation to an employee retiring on superannuation or otherwise before the 1st day of January, 1982, the proviso immediately preceding this proviso shall not apply and the remaining provisions of this sub-clause shall have effect as if for the words "thirty thousand rupees", at the three places where they occur, the words "twenty-five thousand five hundred rupees" had been substituted." Earlier, Amended vide Section 4 of the Taxation Laws (Amendment) Act, 1984 w.e.f. 01-04-1978 55. Omitted vide Section 6 of the Direct Tax Laws (Amendment) Act, 1987 w.e.f. 01-07-1986 before it was read as, "(i)" 56. Omitted vide Section 6 of the Direct Tax Laws (Amendment) Act, 1987 w.e.f. 01-07-1986 before it was read as, "(ii) "salary" shall have the meaning assigned to it in clause (h) of rule 2 of Part A of the Fourth Schedule;" 57. Inserted vide Section 3 of the Finance Act, 1975 w.e.f. 01-04-1976 58. Substituted vide Section 4 of the Finance Act, 1985 w.e.f. 01-04-1986 be....
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....6 of the Finance Act, 1994 w.e.f. 01-04-1995 before it was read as, "authority," 65. Inserted vide Section 6 of the Finance Act, 1994 w.e.f. 01-04-1995 66. Inserted vide Section 5 of the Finance Act, 2001 w.e.f. 01-04-2001 67. Inserted vide Section 5 of the Finance Act, 2001 w.e.f. 01-04-2002 68. Inserted vide Section 4 of the Finance Act, 2002 w.e.f. 01-04-2002 69. Substituted vide Section 6 of the Finance Act, 2003 w.e.f. 01-04-2004 before it was read as, "at the time of his" 70. Substituted vide Section 5 of the Finance Act, 2000 w.e.f. 01-04-2001 before it was read as, "voluntary retirement, in accordance with any scheme or schemes of voluntary retirement, to the extent such amount does not exceed five lakh rupees" 71. Inserted vide Section 6 of the Finance Act, 1994 w.e.f. 01-04-1995 72. Omitted vide Section 5 of the Finance Act, 2000 w.e.f. 01-04-2001 before it was read as, "and such schemes in relation to companies referred to in sub-clause (ii) or co-operative societies referred to in sub-clause (v) are approved by the Chief Commissioner or, as the case may be, Directo....
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....eign Exchange Regulation Act, 1973 (46 of 1973)". 86. Inserted vide Section 5 of the Finance Act, 2013 w.e.f. 01-04-2014 87. Inserted vide Section 5 of the Finance Act, 2013 w.e.f. 01-04-2014 88. Substituted vide Section 6 of the Finance Act, 2017 w.e.f. 01-04-2013 before it was read as, "clause (q)" 89. Inserted vide Section 5 of the Finance Act, 2018 w.e.f. 01-04-2018 90. Inserted vide Section 6 of the Finance (No. 2) Act, 2019 w.e.f. 01-04-2019 91. Inserted vide Section 6 of the Finance (No. 2) Act, 2019 w.e.f. 01-04-2020 92. Substituted vide Section 4 of the The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 w.e.f. 01-04-2021 before it was read as, "convertible foreign exchange, to the extent such income accrued or arisen to, or is received in respect of units held by a non-resident" 93. Inserted vide Section 4 of the The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 w.e.f. 01-04-2021 94. Inserted vide Section 6 of the Finance Act, 2021 dated 28-03-2021 w.e.f. 01-04-2022 95. Inse....
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....ance Act, 2022 w.e.f. 01-04-2023 111. Inserted vide Section 4 of the Finance Act, 2022 w.e.f. 01-04-2023 112. Inserted vide Section 5 of the Finance Act, 2023 dated 31-03-2023 w.e.f. 01-04-2023 113. Substituted vide Section 5 of the Finance Act, 2023 dated 31-03-2023 w.e.f. 01-04-2024 before it was read as, "(4E) any income accrued or arisen to, or received by a non-resident as a result of transfer of non-deliverable forward contracts 104[or offshore derivative instruments or over-the-counter derivatives,] entered into with an offshore banking unit of an International Financial Services Centre as referred to in sub-section (1A) of section 80LA, which fulfils such conditions as may be prescribed;" 114. Substituted vide Section 5 of the Finance Act, 2023 dated 31-03-2023 w.e.f. 01-04-2024 before it was read as, "107[(4G) any income received by a non-resident from portfolio of securities or financial products or funds, managed or administered by any portfolio manager on behalf of such non-resident, in an account maintained with an Offshore Banking Unit in any International Financial Services Centre, as referred to in sub-section (1A) of....